558 LAWS OF MARYLAND [CH. 298

SEC. 2. And be it further enacted, That when the said
Mayor and Council of Chestertown determine to proceed
as authorized in Section 1 of this Act, they shall advertise
their decision in not less than two issues in any newspaper
having a general circulation in the Town of Chestertown,
stating in said advertisement the approximate cost and the
water system facilities involved, and further stating that
a hearing will be held by the said Mayor and Council of
Chestertown at which all interested parties will be heard.
The Mayor and Town Council shall be prepared to exhibit
at such hearing a plan indicating the facilities involved and
the cost thereof. If, after such hearing, the Mayor and
Council of Chestertown determine that the public health
and welfare requires them to proceed, they shall thereupon
proceed with such acquisition, construction, design and
establishment of additional facilities for and repair and
improvement to the present facilities of the water system,
either by contract publicly advertised or by their own force,
or under their own supervision.

SEC. 3. And be it further enacted, That for the purpose
of providing funds for the acquisition, construction, design
and establishment of additional facilities for and improve-
ment and repair of the present facilities of the water
system in the Town of Chestertown, either within or out-
side the corporate limits of the Town of Chestertown, and
all other expenses incidental thereto, the Mayor and Coun-
cil of Chestertown are hereby authorized and empowered
to borrow at one time or from time to time a sum or sums
of money not exceeding in the aggregate One Hundred
Thousand Dollars ($100, 000. 00) upon the full faith and
credit of the Town of Chestertown and to issue and sell
serial bonds therefor, which said bonds shall be known as
"Chestertown Water System Bonds".

SEC. 4. And be it further enacted, That the said bonds
to be issued at one time or from time to time under this
Act shall be either registered or coupon bonds issued in
denominations of One Thousand Dollars ($1, 000. 00) each
and at such rate or rates of interest, not to exceed five
per centum (5%) per annum, as shall be determined by
the Mayor and Council of Chestertown, payable semi-
annually; that the bonds shall be serial type bonds and
shall mature in not exceeding twenty (20) years from
the date of issue and shall be forever exempt from state,
county, and municipal taxation. Said bonds shall be signed
by the Mayor of Chestertown and the seal of the Town
shall be impressed thereon, attested by the Clerk of Ches-
tertown and if coupon bonds, the coupons thereon shall be